Durex owners buy baby food company

Feeding little ones is big business..

A new big money deal will see the Reckitt Benckiser Group (who's business portfolio includes Durex) buy the Mead Johnson Nutrition baby food brand for €15.6bn.

It hopes that this move into the lucrative baby-formula market will offer the conglomerate a fresh revenue stream.

The British multinational also makes Dettol, Nurofen, Air Wick, Calgon, and Woolite.

Its growth was largely flat in 2016 - but the brand says that it is committed to taking risks to spur growth.

Rakesh Kapoor, Chief Executive Officer commented, "We are never happy when an innovation misses the mark, and we are proud of a culture that allows people to push ideas they passionately believe in. As such, we have to also accept that with a multitude of successes, comes the occasional failure.

"The important lessons have been learned. I am confident we have an exciting innovation pipeline for 2017 which has the right balance for growth and outperformance."

The annual report notes that the launch of “Invisible” ultra thin condom helped Durex sales to grow.